Section 16

Advance deposits shall be applied to the purchase of stock of the first loan issued by Malaysia after the date on which the deposits were received either by the Treasury or the Bank:

Provided that the advance deposits may be applied for any of the purposes referred to in section 5:

Provided further a depositor may give notice in writing within seven days after the date of issue of the loan that he wishes the advance deposits or part of it made by him to be repaid.

Whenever a depositor gives notice that he wishes the whole or part of the advance deposits made by him to be repaid, the deposits or part of it made by the depositor shall be repaid immediately, but no interest shall be payable on it.

22 Laws of Malaysia ACT 637

Advance deposits which are applied to the purchase of stock in accordance with subsection (2) shall carry interest at the rate applicable to the stock calculated from the date the deposit was received by the Treasury or the Bank and the interest shall be charged on the Consolidated Fund.

Any power to invest conferred on a primary investing institution by any instrument or written law shall include the power to make advance deposits in accordance with this section.

False entries, etc., in books, documents, etc.